2021-06-30-accounts

Trustees/Directors:	Trustees/Directors:	Peter G Aspbury
		Jason Bacon
		Emily C Bartels
		Jeffrey WCason
		Eamon Delgiacco
		Pamela D Johnston
		Erika H Lederman
		Jayne LW Maxwell
		Chris Metzler
		David Provost
Company	Secretary:	Jayne LW Maxwell
Principal:		Guy Perry
Registered	Office:	Middlebury College - CMRS
		St Michael's Hall
		Shoe Lane
		Oxford
		OX12DP
Company	Number:	04133294
Charity Number:		1086407
Bankers:		Handelsbanken
		Oxford
Examiner:		Wenn Townsend
		30St Giles'
		Oxford

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		Middlebury	College UK Trust Limited
			Balance Sheet
			30th June 2021
			Note	2021	2020
				E
Fixed Assets
Tangible assets				518,514	541,599
Current Assets
Debtors			9	5,404	8,997
Cash at bank and	in	hand	10	272,131	227,799
Current Assets				277,535	236,796
Creditors: Amounts		falling due within one year		(123,535)	(144,529)
Net Current Assets				154,000	92,267
Net Assets				672,514	633,866
Financed by:
Share capital			12	100	100
Funds —restricted			13
Funds —unrestricted			13	672,414	633,766
Total Charity Funds			13	672,514	633,866

				Note	2021	2020f
Cash flow from operating	activities			14	47,058	126,943
Cash flows from investing	activities
Interest income					13	321
Purchase oftangible fixed assets					(2,739)	(70,727)
Cash used in investing activities					(2,726)	(70,406)
Increase in cash and cash	equivalents		in the	year	44,332	56,537
Cash and cash equivalents	at the	beginning		ofthe year	227,799	171,262
Total cash and cash equivalents		at	the end ofthe year		272,131	227,799

	Unrestricted	Restricted	Total	Total
			2021	2020
				E
Donations	5,875	5,750	11,625	27,656

			for the year e	nded 30th J	une 2021
4	Expenditure
			Basis of	Staff	Other	Support	Total	Total
			Allocation	Costs	Costs	Costs	2021	2020
					f			E
	Charitable expenditure
	Academic costs:
	Wages and benefits		Time	152,045		591	152,636	154,799
	Tuition and exam fees		Direct		1,310		1,310	102,256
	Bodleian Library		Direct					32,885
	Keble Fellowship		Direct		37,596		37,596	36,606
	Field trips & meeting	refreshments	Direct		16		16	17,762
	Dues and membership		Direct		11,936		11,936	8,611
	Library		Direct		234		234	4,113
	Support costs (note 5)		Usage	40,256		21,368	61,624	76,345
				192,301	51,092	21,959	265,352	433,377
	Accommodation costs:
	Association fees		Direct					72,191
	Repairs and maintenance		Direct		24,005		24,005	32,827
	Rent and rates		Direct		44,597		44,597	53,379
	Project cost		Direct					1,668
	Cleaning and laundry		Direct		(21)		(21)	2,321
	Accommodation utilities		Direct		18,266		18,266	22,119
	Insurance		Direct		6,462		6,462	6,992
	Contribution paid to CMRS		Direct		22,088		22,088	24,000
	Junior Deans' wages	and benefits	Direct	29,116			29,116	29,731
	Support costs (note 5)		Usage	23,482		12,465	35,947	44,534
				52,598	115,397	12,465	180,460	289,762
	Governance costs
			Basis of	Staff	Other	Support	Total	Total
			Allocation	Costsf	Costs	Costsf	2021 E	2020
	Legal and professional		Direct		10,717		10,717	11,428
	Examiner's fees
	examination work		Direct		4,350		4,350	4,145
	other work		Direct		8,487		8,487	6,921
	Wages and benefits		Time	2,653			2,653	2,609
	Support costs (note 5)		Usage	3,355		1,780	5,135	6,362
				6,008	23,554	1,780	31,342	31,465
	Total charitable expenditure			250,907	190,043	36,204	477,154	752,936

Allocation ofs	upport costs
		60%	35%	5%
		Charitable	Charitable	Governance	Total	Total
		Programme	Accommodation E	Costs E	2021f	2020
Administrator's	salary 8 benefits	40,256	23,482	3,355	67,093	74,331
Computer		3,390	1,978	282	5,650	12,162
Travelling		(155)	(91)	(13)	(259)	2,830
Office supplies		1,119	653	93	1,865	5,368
Other contracted	services	1,411	824	118	2,353	7,319
Sundry						155
Depreciation		15,495	9,038	1,291	25,824	24,849
Bank charges		108	63	9	180	227
		61,624	35,947	5,135	102,706	127,241

Staff costs and numbers
	2021	2020
	K
Wages and salaries	226,299	237,841
Social security costs	18,042	18,150
Pension costs	6,566	5,479
	250,907	261,470

During	the year, the average	the year, the average	number	of employees	and	the	number	of full-time	equivalent	(FTE) staff,
analysed		by function was:
							2021		2020
						FTE		Number	FTE	Number
Education		and accommodation					7	9	7	10

Tangible fixed assets
		Leasehold	Fixtures,	Total
	Rare Books	Improvements	Fittings
	f	8 Equipment E
Cost
At 1st July 2020	200,000	341,639	48,664	590,303
Additions		2,739		2,739
At 30th June 2021	200,000	344,378	48,664	593,042
Depreciation
At 1st July 2020		30,846	17,858	48,704
Charge for the year		18,872	6,952	25,824
At 30th June 2021		49,718	24,810	74,528
Net book values
At 30th June 2021	200,000	294,660	23,854	518,514
At 30th June 2020	200,000	310,793	30,806	541,599

Debtors
		2021	2020
Prepayments	and accrued income	251	2,391
Other debtors		5,153	6,606
		5,404	8,997

2021 E	2020f
272, 131	227,799

		2021f	2020 f
Deferred	income	90,000	125,000
Accrued	expenses	29,883	13,797
Taxation	and social security	3,652	5,732
		123,535	144,529

		2021f	2020 F
Authorised:
100Ordinary	shares ofE1 each	100	100
Allotted, called up and fully paid:
100Ordinary	shares ofE1 each	100	100

Statement	offunds
		At 30th			At 30th
		June 2020	Income	Expenditure	June 2021
				E
Unrestricted	funds	633,866	507,009	(468,361)	672,514
Restricted funds:
Scholarship	fund		5,750	(5,750)
Total restricted funds			5,750	(5,750)	672,514
Total funds		633,866	512,759	(474,111)	672,514
		At 30th			At 30th
		June 2019	Income	Expenditure	June 2020
Unrestricted	funds	447,405	942,841	(756,380)	633,866
Restricted funds:
Scholarship	fund		21,906	(21,906)
Total restricted funds			21,906	(21,906)
Total funds		447,405	964,747	(778,286)	633,866

Reconciliation of n	et moveme	nt in funds to net cash flow fr	om operating activities
			2021f	2020 E
Net movement in funds			38,648	186,461
Depreciation charge			25,824	24,849
Interest income			(13)	(321)
(Increase)/decrease	in debtors		3,593	(7,781)
(Decrease) in creditors			(20,994)	(76,265)
Net cash flow from	operating	activities	47,058	126,943